Visa, one of the world’s leading card payment processors, has recently invested in four African startups as part of its initiative to invest $1 billion in driving financial inclusion across Africa. These investments were made in startups that were part of Visa’s Africa Fintech Accelerator program, which began in June 2023. Out of 23 startups in the program, only four were selected for strategic investment after receiving mentorship, technology credits, and opportunities to connect with potential investors during Demo Day.
The chosen startups include Oze, a business banking platform from Ghana; Orda, a Nigerian restaurant technology startup; WorkPay, a Kenyan HR and payroll management firm; and OkHi, a startup offering address verification services using AI.
Visa expressed its commitment to supporting innovative solutions that facilitate money movement, empower merchants and small businesses, and promote financial inclusion in Africa. The company also announced that startups in the next cohort will have the opportunity to pitch their ideas to Visa and other investors during an upcoming Demo Day in December 2024.
Furthermore, Visa has launched the third cohort of its accelerator program with the participation of startups like Bumpa, Kredete, WeWire, Umba, and 18 others.